She has a hit TV show on the Disney Channel, a pair of albums that have debuted at #1 on the Billboard charts, a concert tour with 69 sold-out arenas in North America, and now a second #1 movie in as many years. Miley Cyrus is the biggest teen star in the world.

With most of Hollywood (including myself) expecting an opening in the mid-$20M’s for Hannah Montana The Movie (Disney), Miley has surprised “grown-ups” with her box office clout once again. The picture opened with $15M on Good Friday, and it could reach an estimated $33.6M by the end of Easter weekend, making it the all-time #2 opening for the bunny holiday weekend.

That is also stronger than Miley Cyrus’ 3-D concert movie last year. 2008’s Hannah Montana/Miley Cyrus: Best of Both Worlds Concert Tour was promoted as a one-week-only motion picture event and benefited from a 3-D upcharge, delivering a stunning $31.1M last February. This 16-year-old has outdone herself.

For the business overall, it appears to be a spectacular frame as Hannah and some strong holdovers will likely score the biggest Easter Weelend in modern box office history, surpassing 2002’s holiday 3-day.

Hollywood wouldn’t be making history were it not for the continued high octane ticket sales of Fast & Furious (Universal). The fourth in the F&F franchise will be down about 63% from its rubber-burning $71M opening, but it will still likely manage a possible $26.4M, more than enough for second-place. The Diesel-Walker-Brewster-Rodriguez “speed machine” will have about $115.65M in the bank on Monday, putting it miles ahead of the other movies in the franchise.

Monsters Vs. Aliens from Dreamworks Animation continues to perform in monstrous proportions. The cutting edge 3-D spectacle added another $8.1M on its third Friday (no school for lots of kids), and it may hit $20.6M thanks to big family matinees on Saturday and Sunday. MVA is the fifth-best performer for Dreamworks Animation after 17 days, trailing only the Shrek franchise and Kung Fu Panda.

Not all good news for the studios. Observe & Report, the new Seth Rogen, R-rated comedy from Warner Bros, is off to a sluggish start with about $4.25M. Reviews are very good, and this one could benefit from positive word-of-mouth, but at the moment I am projecting only $11M or so for the weekend.

Meanwhile, Fox’s Dragonball: Evolution is a bomb with estimated sales of just $1.92M on opening day and a target of $4.85M (8th place). Lionsgate’s strong-holding The Haunting in Connecticut will probably round out the top five with just over $6M for a new cume of almost $47M.